|  |  |  |
| --- | --- | --- |
| **17.** |  | **EARLY TERMINATION:** |



     (a) On or after the First Termination Date (specified in Annex B), Lessee may, so long as no
Event of Default or any event or occurrence which with the giving of notice or passage of time or
both would result in an Event of Default exists and continues under this Lease, terminate this Lease
as of a Rent Payment Date (**“Termination Date”**). Lessee must give Lessor at least ninety (90) days
prior written notice of the termination.

     (b) Lessee shall, and Lessor may, solicit cash bids for the Aircraft on an AS IS, WHERE IS
basis without recourse to or warranty from Lessor, express or implied (other than the absence of
any liens created by or through Lessor) (**“AS IS BASIS”**). Prior to the Termination Date, Lessee
shall, (i) certify to Lessor any bids received by Lessee; and (ii) pay to Lessor, (a) the
Termination Value (calculated as of the Termination Date) for the Aircraft; and (b) all Rent and
other sums due and unpaid as of the Termination Date. Neither Lessee nor its agents shall be
permitted to bid.